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        Your search returned 3 results

        Listed under:  Mathematics  >  Statistics and probability  >  Probability
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        Lucky lottery

        • TLF-IDA003656

        In this lesson, students play a simple lottery game, analyse their odds of winning and how this influences the decisions they made. Students determine the differences between experimental and mathematical probability, conduct a simulation modelling an event and critically evaluate the odds of winning the lottery. The lesson ...

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        Downloadable

        Back to the books

        • TLF-IDA003653

        In this lesson, students will explore how bookmakers set odds, and how these odds are carefully determined in order to guarantee the bookmaker the best chance of making a profit. Students learn how to convert between odds and probabilities and calculate the expected profit or loss based on odds. The lesson is outlined in ...

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        Downloadable

        Poker machines (simulation)

        • TLF-IDA003654

        This lesson explores how poker machines work and what is meant by the term Return to Player (RTP) percentage. Students run simulations to determine how small betting amounts can lead to a large cumulative loss over time and examine how reinvesting profits or wins from playing the poker machine back into the machine has ...

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